New Stellantis CEO Antonio Filosa faces slew of challenges on day one

Detroit – “The ordinary is not worth the journey.”

This was a part of the arrivals Stellantis CEO Antonio Filosa’s first public message after being selected to lead the global automobile manufacturer. One night in Spain was a mantra for decimal for spent 25 years by climbing the company’s ranks, starting from the role of shift stores in Spain.

. The offer was also referenced Late Fiat Chrysler CEO Sergio Marchionne is the mentor of Filosa, who respects the company. Marchionne died unexpectedly many years before the car manufacturer’s parent Stellantis, the parent of brands such as Jeep, Ram, Fiat and Chrysler.

A few old and current Stellantis manager and employees working with Filosa emphasized his connection to Marchionne while talking to CNBC. They also described him as an interesting, collective leader who knew him well from factory floors to C-water offices, but faced a series of difficulties and tests in the future.

While Filosa officially stepped into the role of CEO on Monday, the Italian car manufacturer Fiat and America will have to channel Marchionne, a dynamic manager and thinker who saved Chrysler.

The latest CEO Carlos Tavares, who pioneered the merger to create Stellantis, suddenly resigned in December with a 70% fell in net profit last year with disputes about the company committee last year. Like Marchionne, it was accepted as a dynamic CEO by people inside and outside the company, but many thought that it focused on cost deductions too much.

In addition to financial problems, industry experts said Filosa should continue to connect with dealers, politicians and employees damaged during the term of Tavares. And the company will have to address the investment plans between “electric” models such as traditional tools and hybrids and houses.

“We need to manage the transition, right? [a] A strong part of the future, right? “At that time, Filosa, the President of the American Filosa, told journalists to journalists, not only for Stellantis, but for the automotive industry itself. Speed ​​and speed are probably something that needs to be re -evaluated. “

Filosa said that it would be at the new CEO to decide on speed at that time. If the company’s problems, the board of directors, ultimately described it as “multiple task difficulties” for him.

Filosa, a relatively young CEO at the age of 51, has started running since Tavares introduced him to the chief business officer of Stellantis from Jeep’s CEO to the Chief Officer of American operations.

Employees were alive about deductions and dismissal, and the company’s franchise retailers Stellantis were alive about sales and market share losses within the Tavares. Stellantis National Dealership Council is one in September Unseen open letter that condemns Tavares’s actions.

Stellantis’s global sales under Tavares from 6.5 million in 2021 – the year of the company – fell 12.3% 5.7 million in 2024. This included a collapse of about 27% in the US at that time. The automobile manufacturer fell sixth of US sales as the sixth and fell to 8% from a market share of 11.6% during this time period.

Napoli, a citizen of Italy Filosa, in January, the biggest priority of the United States, fleets or businesses, contrary to customers, including sales to the retail market share, he said.

“We have to do this. This is not a belief, this is a need,” he said. “US retail market share really measures your organic ability [grow sales]. “

The car manufacturer remains in a product horror and reduces its total sales to approximately 12% compared to the same period of the previous year in the first quarter of this year. The company refused to release its annual retail sales.

However, the upcoming redesigned Jeep Cherokee, additional RAM 1500 van and Dodge charger, which works with a new gas, is expected to increase the top line of the car manufacturer.

Stellantis’s income has increased since its establishment, but in 2024, it decreased by 17.2% to 156.9 billion euros ($ 180.6 billion), while other car manufacturers, such as other automobile manufacturers General motors And Ford engine He saw significant increases in the upper lines.

“Filosa has stepped into the role of CEO because of significant difficulties for the company,” RBC Capital Markets analyst Tom Narayan said. “Emergency priorities include the company’s reconstruction of the company’s performance in the US market, Stellantis’s 14 -branded portfolio regulation, and repairing tense relationships with dealers, trade unions and governments.”

“I think this is a logical, reliable choice,” Tavares Told to Bloomberg In late May, since he left the company in his first interview with international media. “I hope it is supported by the board of directors. Let’s see.”

Since it was declared as CEO on May 28, Filosa has visited most of the plants of the car manufacturer in the USA, Canada and Europe. It was reported that he was chosen after a six -month research containing other internal and external candidates.

Public comments on his new position painted as a humble, grateful manager and father who was proud to connect with people.

“This great company is honored to be appointed as the CEO of Stellantis. My house for 25 years. This is my blood,” he said. May 28 LinkedIn PostReference marchionne.

A handful and the former Stellantis manager described Filosa as a “interesting leader” and “listener” like Marchionne, who are comfortable in plants, especially in plants.

“I worked side by side with him.… We grew up under Sergio.” He said. “He is a human. He is a visionary, energetic, young… And he is wondering. A great listener. I love problem -solving skills and loves design for me.”

Marchionne would call its managers as “child”, many of which were assigned to their first high -profile leadership positions, such as Gilles and Filosa. RAM CEO Tim Kuniskis and Marketing Manager Olivier Francois are still among the others with Stellantis.

“Antonio’s wonderful,” Kuniskis, who was not withdrawn after a seven -month break last year, told CNBC. “He’s one of the driving forces who want to go back for me.”

At the beginning of this month, Stellantis CFO Douglas Ostermann launched his past to produce and build Latin America, where Filosa remained a high profitability zone for the company.

“He is a very clear leader that I think is working well among the founder of people, brands, a kind of relationship,” Ostermann said, “He, people, brands, a kind of relationship.” He said.

Upon Filosa’s appointment, Bernstein analysts in an investor note call him a “safe pair”, but for investors describing it as a relatively dull choice compared to an old external recruitment.Apple CFO Luca Maestri, which the company thinks.

Bernstein Analyst Daniel Rouska told CNBC, “they were very excited about the possibility of bringing someone out of the outside.” He said. “Not because there was no one inside, but after such a big mixture, investors thought that the idea of ​​bringing something from the outside was good.”

Filosa did not have much experience in such a high -profile role, unlike the automotive veterans tested in war. It came from the company’s Latin American operations and served for a short time in North America, its most important market. Although it is Italian, it has limited working time in Europe, the second most important region of the automobile manufacturer.

In the event of anonymity to speak freely, the two sources that accepted the speech, similar to their predecessors and other CEOs, said that there was a nose that can demand from time to time.

Filosa will have to regain the investor confidence that both Marchionne and Tavares are relieved. The two companies said that three sources, including one of them, have not yet had a CEO hero, like their predecessors, and that there was nothing that could come with experience.

UBS analyst Patrick Hummel said last month in a financial note that Filosa’s interaction with the finance community was “limited” in June 2024 with a capital market day.

Investors did not strongly react to the CEO selection according to the company’s stock price. When Filosa was announced as CEO on May 28, the stocks of the share in the US list fell 3.2%. Since then, stocks have been about 10% in the midst of an external factors.

The daily stock fall is similar to Marchingne’s “Fiat Chrysler Cars” or Chrysler and Fiat to make FIAT on May 6, 2014.

Marchionne, a philosophy known for its clever explanations, was to discuss the difficulties in front of the automotive industry, including unprofitable enterprises that Filosa and Stellantis should continue to deal with.

“I told you this morning that our FCA culture reacted better when you face the purpose and challenge.” He said. “And our plan has the purpose because when everything is said and everything is over, ordinaryness is not worth the journey.”